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The price of Ether has moved into a bullish zone compared to the US dollar and bitcoin. It is likely that the ETH / USD will move further above the resistances of $ 213.00 and $ 215.00.
Key points
The price of Ether broke resistance levels of $ 203.00 and $ 210.00 against the US dollar.
ETH / USD traded above a rising channel at $ 207.00 on the 2-hour chart.
ETH / BTC exceeded the key resistance levels 0.0318BTC and 0.0320BTC.
Technically, the 2-hour chart indicators are gaining momentum in bullish territory.
Price analysis of the ether
In the weekly analysis, we discussed the fact that ETH / USD is preparing for the next major break above $ 203.00 or below $ 192.00. The pair broke up and overtaken the resistance levels of $ 203.00 and $ 210.00.
Likewise, there have been bullish moves in ETH / BTC since the pair broke the key resistance levels 0.0318BTC and 0.0320BTC. He opened the door for further gains and the pair was trading above 0.0325BTC. The next resistance waits at 0.0330BTC, followed by 0.0334BTC.
Looking at the 2-hour chart of Eth / USD, it was a solid bullish wave started from the low of $ 192.69. The pair followed an ascending channel and broke resistance levels $ 200.00 and $ 203.00. Subsequently, buyers gained momentum, with a break above the channel resistance at $ 207.00.
Ether gathered above the resistance of $ 210.00 and traded at a new monthly high at $ 218.29. Subsequently, the price was corrected below the $ 210.00 level and traded towards the $ 208.00 level plus the interrupted channel trendline.
The price found support close to the $ 208.00 level and is currently trading at a bullish angle above the $ 210.00 level. The 30-minute ETH / USD chart suggests that the pair recently broke a downtrend line at $ 209.00 to resume its move upwards.
An immediate resistance is close to the $ 213.00 level, above which the price of Ether could test the resistance of $ 215.00. If there was a break up above $ 215.00, the price could trade for a new monthly high above $ 218.29.
To sum up, Ether has moved into a bullish zone, and it seems that the price could continue to grind higher towards $ 215.00 and $ 220.00 in the next sessions.
Important resistance levels
$ 213.00 and $ 215.00
Important support levels
$ 208.00 and $ 203.00
2 hours RSI
The RSI is moving higher towards level 65.
MACD at 2 hours
The MACD is positioned well in the bullish zone.
Aayush spent over seven years as a contributor and observer of the financial markets. He specialized in market strategies and technical analysis. It strives to provide entertaining and informative analyzes on the currency and commodity markets. He is a software engineer by profession and loves blogs.
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